BUZZ-Proximus hits new record low as competitor DiGi enters market

Reuters
2024-12-11
BUZZ-Proximus hits new record low as competitor DiGi enters market

** Shares in Proximus PROX.BR fall 7% to its lowest ever, with analysts pointing to Romanian-based DiGi DIGI.BX launching its fixed and mobile services in the Belgian telecom market

** DiGi "most likely will offer steep discounts to current average price levels, potentially disrupting the market," ODDO BHF analyst Konrad Zomer says

** This is likely to lead to margin pressure in the Belgian telecom market and Proximus is also likely to feel some impact, Zomer adds

** BNP Paribas analyst Ayesha Mansoor also attributes the share price drop to the announcement of DiGi's pricing

** If losses hold, Proximus shares are on track for their worst day since July, when it closed 11.3% lower

(Reporting by Anna Peverieri)

((Anna.peverieri@thomsonreuters.com))

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